Dr. Dre and Jimmy Iovine Donate $70 Million to Start Tech Entrepreneur Program at USC

Legendary hitmaker Dr. Dre and music mogul Jimmy Iovine have teamed up for yet another venture. This time the two are giving the University of Southern California $70 million to develop "a degree that blends business, marketing, product development, design and liberal arts," the New York Times reports.

“If the next start-up that becomes Facebook happens to be one of our kids, that’s what we are looking for,” Iovine said.

The USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation will be a four-year program focused on forward-thinking modernization. Fall 2014 will mark the program's first year, with 25 students being chosen for their stellar academic pedigrees and "original thought."

For men who have had celebrated careers—Dre shepherding gangsta rap into popular culture and Iovine's repeated successes with Interscope Records—neither Dre nor Iovine attended college, but felt the need to give back.

“I feel like this is the biggest, most exciting and probably the most important thing that I’ve done in my career,” Dre said.